Global Needle-free IV Connectors Market, by Design Type (Straight Channel, T-channel, Y-channel, and Multi-channel), by Mechanism (Positive, Negative, and Neutral), by Dwell Time (Seven-day and Other than Seven-day), by End User (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 755.8 million in 2018, and is expected to exhibit a CAGR of 10.3% over the forecast period (2019-2027).
Growing prevalence of chronic diseases with increasing need of treatment, risk of possible bloodstream infections, and effectiveness over conventional IV administration are expected to be the major factors driving growth of the global needle-free IV connectors market over the forecast period. Manufacturers are focusing on minimizing the risks associated with IV administration with conventional methods coupled with existing minor issues associated with the use of needle-free IV connectors such as blood reflux caused by gasket compression and blood reflux due to disconnection with the luer. For instance, MicroClave connector of ICU Medical offers minimal blood reflux in the catheter tip. The company has received three type of the U.S. patents for MicroClave clear needle-free connector in 2015 and 2016. Moreover, in September 2014, RyMed Technologies developed InVision-Plus a silver-coated connector, with neutral advantage technology designed to reduce bacterial contamination. Furthermore, increasing regulatory approvals from regulatory bodies is expected to drive growth of the global needle free IV connectors market over the forecast period. For instance, in January 2016, Hospira, a Pfizer-owned company and provider of infusion technologies, received the CE mark approval for a new needle free intravenous (IV) connector, the Nuitiv Clear Needle-free Connector. Nuitiv was launched globally, with immediate availability in Latin America, followed by Europe in early 2016. Key players are focused on developing and offering connectors for intravenous and other routes of administration. For instance, U.S. Food and Drug Administration (FDA) approved world’s first needleless connector, Tego needle-free connector used in hemodialysis applications that was developed by ICU Medical Inc. in 2014. Furthermore, Vygon S.A. launched Nutrifit enteral connectors in 2016. These are used in neonates to ensure safe and secure enteral feeding.
Browse 70 Market Data Tables and 30 Figures spread through 200 Pages and in-depth TOC on “Needle-free IV Connectors Market, by Design Type (Straight Channel, T-channel, Y-channel, and Multi-channel), by Mechanism (Positive, Negative, and Neutral), by Dwell Time (Seven-day and Other than Seven-day), by End-user (Hospitals, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
To know the latest trends and insights related to Needle-free IV Connectors market, click the link below:
Key players are adopting strategies such as acquisitions to make use of the innovative IV administration technologies present in the market and strengthen its foothold in the global market. This is further expected to drive growth of the market over the forecast period. For instance, in 2017, ICU Medical acquired Hospira Infusion Systems segment business from Pfizer Inc. Moreover, in 2014, Becton, Dickinson and Company acquired CareFusion Corporation, a medical device company offering prevention of health care-associated infections. Furthermore, in 2014, Medtronic Plc acquired Covidien manufacturer of medical devices and supplies.
Key Takeaways of the Needle-free IV Connectors Market:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.